Economics Vocabulary

Economics Vocabulary

6th - 8th Grade

15 Qs

quiz-placeholder

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Economics Vocabulary

Economics Vocabulary

Assessment

Quiz

Social Studies, Geography, History

6th - 8th Grade

Medium

Created by

Phillip Perry

Used 266+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In this economic system, decisions are made by private citizens with no government regulation

Command

Market

Traditional

Mixed

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Someone who is willing to take a risk to begin a new business

Entrepreneur

Human Capitol

Trade Barriers

Capital Goods

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Factories, machinery, and technology available in a country

Specialization

GDP (Gross Domestic Product)

Natural Resources

Capital Goods

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Producing those goods a country can make most easily so they can trade them for goods made by others that cannot be produced locally

Tariff

Specialization

Literacy Rate

Mixed Economy

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A ban on trading with a particular country for economic or political reasons

Tariff

Quota

Embargo

Specialization

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A limit on the amount of imported goods

Tariff

Quota

Embargo

Specialization

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The ability of the people over the age of 15 to read and write

Capital Goods

Entrepreneur

Human Capitol

Literacy Rate

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